Sunday, October 26, 2014

#BDS_Fail: Company they love to hate posts blockbuster quarter

Caterpillar, based in Peoria, Illinois, reported third-quarter net
income of $1.02 billion, or $1.63 per share, in the three months ending
Sept. 30, compared with $951 million, or $1.45 per share, in the same
quarter a year ago.

Adjusted to remove restructuring costs, earnings came to $1.72 per
share, blowing past Wall Street expectations of $1.33 per share.

Even as new evidence of a global economic slowdown emerged, Caterpillar
said Thursday that it expects adjusted full-year earnings to reach $6.50
per share, up from its previous forecast of $6.20 per share. Revenue is
expected to be $55 billion, in the middle of earlier projections
between $54 billion and $56 billion.

This week, China reported economic growth fell to a five-year low of 7.3
percent in the third quarter and there are concerns that Europe is
sliding back into recession.

"We've continued to focus on what we can control — cost management and operational execution," Oberhelman said.

Shares of Caterpillar Inc. rose $3.97, or 4.2 percent, to $98.54 in
morning trading Thursday. As of Wednesday's close, its shares were up 4
percent since the beginning of the year.

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About Me

I am an Orthodox Jew - some would even call me 'ultra-Orthodox.' Born in Boston, I was a corporate and securities attorney in New York City for seven years before making aliya to Israel in 1991 (I don't look it but I really am that old :-). I have been happily married to the same woman for thirty-five years, and we have eight children (bli ayin hara) ranging in age from 12 to 33 years and eight grandchildren. Three of our children are married! Before I started blogging I was a heavy contributor on a number of email lists and ran an email list called the Matzav from 2000-2004. You can contact me at: IsraelMatzav at gmail dot com